Rivian Automotive Raises $1.34 Billion in Stock Offering Amid R2 Launch

Rivian Automotive completed a public offering on July 9, 2026, selling 75 million shares of common stock at $15.50 each. Underwriters exercised their option to purchase an additional 11.25 million shares, bringing gross proceeds to approximately $1.34 billion before discounts and expenses.

The financing comes as Rivian rolls out its lower‑priced R2 SUV, priced at $57,990, which helped lift June deliveries to 12,194 vehicles and prompted the company to raise its full‑year production target to 70,000 units. Analysts note that while the R2 could improve growth, Rivian’s share price remains far below its 2021 IPO level, having fallen about 82.5 % since the offering. The company also plans to raise up to $8 billion through additional share sales through 2028, which could dilute existing shareholders despite expectations of narrowing losses in upcoming years.